Blockchain implemented method and system
The invention provides a computer-implemented method for performing an exchange via a blockchain, comprising the step of submitting a funding transaction to the blockchain network, wherein the funding transaction i) comprises a tokenised contract relating to an asset to be transferred from a second user to a first user; and ii) is signed by the first user. It also comprises the step of sending, from the first user to the second user, one or more subsequent transactions wherein each said subsequent transaction spends an output of the funding transaction and is signed by the first user. It includes the step of submitting one of the subsequent transactions to the blockchain network, the submitted transaction having been signed by the second user.
1 . A computer implemented method comprising:
generating, by a processor, at least one smart contract;
generating, by the processor, for each of the at least one smart contract, a token;
generating, by the processor, a first transaction for the at least one smart contract;
transmitting, by the processor, the first transaction to a blockchain;
displaying, by the processor, the at least one smart contract with the corresponding token;
receiving, by the processor, a second transaction from a device of a customer wherein the second transaction comprises a cryptographic signature of the customer, an amount of digital currency and a script;
cryptographically signing, by the processor, the second transaction and transmitting, by the processor, the cryptographically signed second transaction to the blockchain;
receiving, by the processor, a third transaction from the device of the customer;
cryptographically signing, by the processor, the third transaction and transmitting, by the processor, the cryptographically signed third transaction to the script on the blockchain; and
transmitting, by the script, the amount of digital currency to an address associated with the processor or the device of the customer.
2 . The computer implemented method of claim 1 , wherein the second transaction is a deposit of the customer redeemable as a result of non-redemption in the third transaction.
3 . The computer implemented method of claim 1 , the computer implemented method further comprising:
initializing a locktime, by the processor, in response to the transmitting of the cryptographically signed second transaction, wherein the transmitting of the cryptographically signed third transaction further comprises determining the locktime has expired.
4 . The computer implemented method of claim 3 , wherein the token represents a digital asset to be utilized by the customer, and wherein the locktime is a predetermined amount of time that the customer contracted for access to the digital asset.
5 . The computer implemented method of claim 1 , wherein the third transaction is a refund request from the customer.
6 . A system, comprising a first computer and a second computer;
the first computer comprising:
a first processor;
a first non-transitory machine readable medium having first machine executable instructions that when executed by the first processor causes the first processor to execute first operations, the first operations comprising:
generating at least one smart contract;
generating for each of the at least one smart contract, a token;
generating a first transaction for the at least one smart contract;
transmitting the first transaction to the second computer;
displaying the at least one smart contract with the corresponding token;
receiving a second transaction from a device of a customer wherein the second transaction comprises a cryptographic signature of the customer, an amount of digital currency and a script;
cryptographically signing the second transaction and transmitting the cryptographically signed second transaction to the second computer;
receiving a third transaction from the device of the customer;
cryptographically signing the third transaction and transmitting the cryptographically signed third transaction to the script on the second computer; and,
the second computer comprising:
a second processor;
a second non-transitory machine readable medium having second machine executable instructions that when executed by the second processor causes the second processor to execute second operations the second operations comprising:
transmitting the amount of digital currency to an address associated with the first processor or the device of the customer.
7 . The system of claim 6 , wherein the second transaction is a deposit of the customer redeemable as a result of non-redemption in the third transaction.
8 . The system of claim 6 , the first operations further comprising:
initializing a locktime in response to the transmitting of the cryptographically signed second transaction, wherein the transmitting of the cryptographically signed third transaction further comprises determining the locktime has expired.
9 . The system of claim 8 , wherein the token represents a digital asset to be utilized by the customer, and wherein the locktime is a predetermined amount of time that the customer contracted for access to the digital asset.
10 . The system of claim 1 , wherein the third transaction is a refund request from the customer.